Audiovox Corp. said Thursday that it has reached a deal to acquire German CE accessories maker Schwaiger.
The deal is set to improve Audiovox's position in such category areas as amplifiers and accessories, antenna outlets and accessories, switches, cables, installation materials and more.
"It has always been our intention to grow our European operations by adding significant markets and product categories and capitalizing on synergies where they exist," Audiovox's president and CEO, Patrick Lavelle, said as part of the announcement. "This acquisition does just that, as it adds to our Oehlbach accessory business and further increases our 'accessories' presence by adding both new customers and product lines to our growing European, accessory business."
The acquisition was for $4.3 million, the company said.
